Ecopetrol S.A. (EC) Shares are Up 6.44%

Ecopetrol S.A. (EC) has been under a strong bear grip, hence the stock is down -1.37% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 6.26% in the past 1 week. The stock has risen by 6.44% in the past week indicating that the buyers are active at lower levels, but the stock is down -1.9% in the past 4 weeks.

The stock has recorded a 20-day Moving Average of 0.7% and the 50-Day Moving Average is 0.84%.The 200 Day SMA reached 5.12%

Ecopetrol

Ecopetrol S.A. (NYSE:EC): After opening at $8.74, the stock dipped to an intraday low of $8.68 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $8.84 and the buying power remained strong till the end. The stock closed at $8.76 for the day, a gain of 1.27% for the day session. The total traded volume was 1,231,940. The stocks close on the previous trading day was $8.76.

Ecopetrol S.A. (EC) : 4 investment research analysts covering Ecopetrol S.A. (EC) have an average price target of $8.25 for the near short term. The highest target price given by the Brokerage Firm to the stock is $10 and the lowest target is $7 for the short term. Analysts expect the variance to be within $1.32 of the average price.

Ecopetrol S.A. is an oil company. The Companys business segments include Exploration and Production; Transportation and Logistics, and Refining, Petrochemicals, and Biofuels. The Exploration and Production business segment includes exploration, development and production activities in Colombia and abroad. It conducts exploration and production activities through some of its subsidiaries and through joint ventures with third parties. The transportation and logistics segment includes the transportation of crude oil, motor fuels, fuel oil and other refined products, including diesel and biofuels. It conducts these activities through its wholly owned subsidiary Cenit and Cenits subsidiaries. Its key refineries are the Barrancabermeja refinery, which it directly owns and operates, and a refinery in the Free Trade Zone in Cartagena that is operated by Reficar S.A., a wholly owned subsidiary of it. It has presence in Colombia, Peru, Brazil, Angola and the United States Gulf Coast.

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